investor mindset

In this episode, William Green chats with hedge fund manager Christopher Begg, who is the CEO, Chief Investment Officer, & co-founder of East Coast Asset Management. Chris is also a revered professor at Columbia Business School, where he teaches the Security Analysis class that was originally taught by Warren Buffett’s mentor, Ben Graham. Here, Chris shares powerful lessons on how to identify high-quality businesses & build a life that’s defined by a commitment to quality. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:54- How Chris Begg came to teach an investing class originally taught by Ben Graham. 10:29 - What Chris learned from his ten fireside chats with Berkshire Hathaway’s Todd Combs. 13:17 - What Buffett & Munger taught Chris about focusing on a few great businesses. 17:58 - How he finds undervalued stocks by asking, “Where are the clouds today?” 26:55 - Why he’s bullish on Meta & Google, despite an array of perceived threats. 36:09 - How he identifies great businesses by seeking 8 layers of competitive advantage. 47:13 - How to succeed through “persistent incremental progress eternally repeated.” 1:00:01 - Why investors can’t afford to ignore a company’s impact on the environment. 1:06:40 - Why consistent kindness is a potent ingredient of success, helping to build trust. 1:15:22 - How Chris gains an edge by continuously compounding his interdisciplinary knowledge. 1:32:17 - What he’s learned about the pursuit of excellence from surfing with Josh Waitzkin. 1:40:48 - Why Chris structures his workday to include meditation & contemplation. 1:50:46 - What studying Andrew Carnegie—once the world’s richest person—has taught him. 1:53:40 - Why Chris believes that the world is headed in a better direction. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Chris Begg’s investment firm, East Coast Asset Management. One from Many by Dee Hock. Nick Sleep’s list of long-term vs short-term characteristics. Robert Pirsig’s Zen & the Art of Motorcyle Maintenance, Lila, & On Quality. Finite & Infinite Games by James Carse. William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book. William Green’s Twitter. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Linkedin Marketing Solutions Fidelity Efani Shopify NDTCO Fundrise Wise NetSuite TurboTax Vacasa NerdWallet Babbel Learn more about your ad choices. Visit megaphone.fm/adchoices

Just how much success could you have achieved in the last ten years? 

• (1.05) Story of the week. 
• (4.45) What could you have accomplished in a decade? 
• (7.30) Best and worst regions over the last 10 years. 
• (9.30) What if you only reinvested your equity? 
• (14.50) What if you made changes to your properties? 
• (15.50) Should you let yourself be scared off investing? 
• (26.00) Hub Extra 

Links mentioned: 

• Halifax Data 
• BBC reports house prices falling 
• The One Thing by Gary Keller 
• The Magic of Thinking Big by David Schwartz 
• Pre-order The Price of Money 

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Tommy Christy has bought more homes than most investors you know combined. While he didn’t have to put up his own money to close on the deals, he did go through the process of lead generating, offering, auctioning, analyzing, and finally closing on them for his hedge fund employer. He was able to score twenty-seven hundred homes in just over two years, before realizing it was time for him to build his personal portfolio a bit more. When the market crashed in 2009, Tommy saw an opportunity to buy homes at a significant discount. He was essentially buying anything under sixty thousand dollars in California, which turned out to be a good idea seeing how much the state has appreciated in the past twelve years. Tommy knows what it takes for the hedge funds to buy a great deal, but he also knows what they’re overlooking. Even if you’re not planning on buying two-thousand plus units in two years, Tommy’s knowledge of “buy boxes” and systematizing your lead flow can help you reach a significant unit count, much faster. If you want to partner up on a deal, have a chat, or wholesale a home, get in touch with Tommy at tommy@ilovehouses.com! In This Episode We Cover: REOs vs. foreclosures vs. pre-foreclosures (and which you should look out for) Creative financing and understanding which type falls into which market cycle Developing your “buy box” and “crystal clear criteria” for real estate deals Thinking like a hedge fund so you can beat them at their own game How to scale your portfolio so you don’t just have more units, but less work Where to find the best lead sources so you can buy, BRRRR, or wholesale as you see fit And So Much More! Links from the Show BiggerPockets Forums GoBundance Zillow David Greene's Company BiggerPockets Show 551 with Josh Dorkin Wells Fargo Property Radar BiggerPockets Youtube Channel BiggerPockets Podcast 527: 300 Doors, 100% Creative Financing with Pace Morby Sacramento Bee Invitation Homes Zillow Open Door Capital BiggerPockets Podcast 543: 5 Tools To Unlock Your “Ideal Life” w/ “Traction” Author Gino Wickman Josh Dorkin BiggerPockets Podcast 325: From Major Business Failure to Buying 20 Houses a Month With Aaron Amuchastegui Jeff Brown's BiggerPockets Profile Supermarket Sweep Check the full show notes here: https://www.biggerpockets.com/show550  Learn more about your ad choices. Visit megaphone.fm/adchoices

Joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion. Shaan Puri (@ShaanVP) breaks down the way he thinks about angel investing. He talks through his experiences, what you should look for in a founder, how to be an angel investor with someone else’s money, and how to evaluate your returns.  See acast.com/privacy for privacy and opt-out information.

This week on The Property Podcast we’ve got an action packed episode for you as we revisit some of our listeners success stories.

Today we’re catching up with three Hubbers who started their investment journey just one year ago.

First up we’ve got Sarah who started a flipping company in Sheffield and bought two buy-to-let properties. Sarah also teamed up with Simon, her project manager, in a joint venture (which we know a lot of you Hubbers are interested in) so this one will be worth a listen.

Next we spoke to Iain who started off with a two-bed house and then went on to convert his HMO into two houses. Not content with stopping there, he’s also  building a third property onto the end. Iain is used to the developer side of things, but he’s now also dipping his toe into the world of leasehold, mixing up his strategy. But what will the outcome be? Will he stick to developing or will he eventually become a lot more hands off?

Last but not least we’ve got Steve. When we last spoke to Steve he’d been investing for 5-6 years and had four buy-to-let properties. So what’s he been up to over the past 12 months? Steve is big on doing his research and has that much experience under his belt now, he could almost do it in his sleep! Tune in to hear about how Steve has successfully built his property portfolio.

So there we go…   three Hubbers, all who are doing incredibly well with their investment journeys, and all with completely different strategies.

If you have a success story, we’d love to speak to you!

Have you landed a deal, finished a refurb or simply taken your first step onto the buy-to-let ladder?

Let us know! We love hearing about how you’ve taken action. You can find us on the socials (facebook, twitter, instagram) @propertyhubuk or on the forum at propertyhub.net/forum

In the news this week, the most recent Hometrack report headlines ‘northern city house prices storm on as south succumbs to Brexit slowdown’. We hate to say it, but we saw this one coming from a mile off. The report also shows that Liverpool house prices are up 5.5% annually, just one of the hotspot locations we mentioned at the beginning of the year.

This week for our Hub Extra we haven’t got a tool for you, but more of an inspirational quote.

‘You can have anything you want… But not everything you want’.

We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.

Make sure you’ve liked and subscribed to our brand new YouTube channelwhere we upload new content every week!

If that wasn’t enough, you can also join our friendly property community on the Property Hub forum.

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